Socio-Economics & History Commentary

A new European World leader appears. He goes by the name Emmanuel (“god” with us) Macron. He wants to rule like the Roman god Jupiter (Greek: Zeus). Will the real Man of Sin please stand up? Or do we wait for another?
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Emmanuel Macron Calls for Solidarity as He Vows to Lead EU Rebuildby Angelique Chrisafis in Paris Helena Smith in Athens, https://www.theguardian.com/internationalFrench president uses Athens speech to position himself as the leader to fix EU’s crisis of confidence, calling for the shoring up of shared European values.–The French president Emmanuel Macron has vowed to lead a “rebuilding” of the European Union, warning that “sovereignty, democracy and trust are in danger” and that its citizens no longer understand the project.–In a speech in Athens, Macron called for greater European Union cooperation and solidarity, reiterating his longstanding calls for an integrated eurozone with its own financial minister, parliament and a standalone budget to head off future crises.–“Our generation can choose to [do this] … we must find the strength to rebuild Europe,” he said.–The pro-business, centrist French leader whose popularity at home has slumped since he was elected in May, warned that Europeans “must not abandon the fight” of shared values or else the EU would ebb away or die, riven by internal conflicts. He warned the bloc must reinvent itself and become “more democratic,” more than “simply summit after summit” of officials shut away in crisis meetings.–Macron promised a road map for the rebuilding of the EU in the coming months, arguing that nations sticking together inside the EU was the only way to protect citizens against problems including climate change and terrorism.–However, Macron cannot detail any plans for eurozone or EU reform until after this month’s election in Germany, when it will become clearer to what extent a new government in Berlin would be open to backing his ideas.–read more.

A new European World leader appears. He goes by the name: Emmanuel (“god” with us) Macron. He wants to rule like Jupiter (Greek: Zeus) the Roman god. He wants to unite Europe into a Superstate: United States of Europe. Am I suspicious? YES!
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Macron to Deliver Vision for EU Democracy in Athensby https://www.euractiv.com/President Emmanuel Macron will this week unveil his vision for European reform in Athens. On the menu is the eurozone, transnational lists for 50 MEPs and democratic conventions, whose results are expected ahead of the next EU elections. EURACTIV France reports.–Macron’s trip to Greece this Thursday and Friday (7-8 September) is dripping with symbolism. Beyond visiting his 12th EU head of state in ten days, the French president will talk about Europe.–For this, he has chosen the Pynx hill, where the citizens of ancient Greece discussed democracy and governance. And where Socrates gave his lessons.–Athens, for Macron, is the “symbol of our collective errors”: the debt crisis; the eurozone crisis, which has seen growth stagnate for ten years; and the crisis of democracy, which is reflected in the decision made by non-representative institutions. Europe’s poor management of this series of crises is its failure. From the sale of the port of Piraeus to Chinese investors to the chaotic management of the refugee crisis, Greece is the epitome of the “polycrisis”.–But Macron has a plan.On the question of the economy, the French president is not the saviour Greece has been hoping for. Cautious to keep good relations with Berlin, Macron is not travelling to Athens bearing gifts to help the struggling economy through its loan repayments.–But he will talk about his plan for eurozone reform: a common European budget. The EU’s southern member states have been enthusiastic about the idea so far, keen to recover some budgetary breathing space, which they have cruelly lacked since the crisis.–read more.

German Food Chain Faces Backlash After Airbrushing Crosses From Churches On Food Packagingby Tyler Durden, http://www.zerohedge.com/Europe’s war on religion has reached an absurd milestone.According to the Telegraph, customers of budget supermarket Lidl have expressed outrage after the company airbrushed Christian symbols from packaging of its “Eridanous”-branded Greek-food line, which featured images of the Anastasis Church in Santorini, Greece, in order to remain “religiously neutral,” as the company claimed.–“The German chain’s Greek food range features images of the famous Anastasis Church in Santorini, Greece, complete with its world-renowned blue dome roof.”
–Shoppers have taken to the company’s Facebook page to express their “disappointment” that the cross was photoshopped. One user, Daniel Novak, wrote: “I’m highly disappointed in a company that is bending over to cater to specific people. Why are you hiding from the history?”–“We are all to learn from history, removing it with Photoshop will cause the same mistakes of the past to be done over and over again.”–One user demanded to know who the company thought it would be offending with the crosses.–“Steve West added: ‘Why have you taken the crosses off the top of Greek churches in your advertising? ‘Is there somebody you will think takes offence? There is. Me, Greeks and many others. I definitely won’t be using you again if you don’t reverse this policy.’”–read more.

Published on Aug 8, 2017Germany continues to send asylum-seekers back just before general election. It’s returning nearly 400 newcomers under EU rules which dictate where immigrants should be processed.

“The Euro Crisis Is Not Over” Former ECB Chief Economist Urges “Greek Sabbatical From EU”by Tyler Durden, http://www.zerohedge.comOtmar Issing, former Chief Economist and Member of the Board of the European Central Bank and the German Bundesbank, brings back the specter of Grexit scenarios, demanding a Euro-sabbatical for Greece.–KeepTalkingGreece.com reports that, uin an interview with business news magazine Wirtschaftswoche, Issing warned of a new flare-up of the euro crisis.
–“The euro crisis is not over yet,” said the economist, one of the architects of the Euro.–Issing called on a policy that would include EU treaties allowing the possibility of temporary withdrawal from the monetary union.–“States like Greece would do well with a Sabbatical outside the monetary union.However, it should be accompanied by massive aid from other countries and a growth-oriented economic policy. And one would have to make re-entry into the euro zone dependent on fundamental reforms, ” Issing said.–Issing no longer relies on the Stability and Growth Pact, a core element of the economic and monetary union. “I would not have considered the dimension of its dismantling by the governments”.–read more.

Published on Jul 21, 2017Get economic collapse news throughout the day visit http://x22report.comIMF executive board decides to give Greece a conditional loan but wants more austerity and a plan to reduce debt. Sales are plunging for GM, they are closing plants, laying off workers and discontinuing cars. Pensions are in trouble, many corporate pensions are underfunded and it is only going to get worse. The myth that there was cash on the side lines, is just that a myth, there is no more cash on the side lines. The money supply has dropped and we have seen this back in 2008, this is an indicator that the economy is entering a recession. The central banks are panicking, once they announced that stimulus is ending the market took a dive, the central bank then backtracked on everything .

EURO HUMILIATION: Germany ‘Freaked Out’ as Greece ‘Could Ditch EU Currency for US DOLLAR’by NICK GUTTERIDGE IN BRUSSELSGREECE could be poised to humiliate Brussels by ditching the euro and instead choosing to be tied to the US dollar, Donald Trump’s reported pick as EU ambassador has sensationally claimed.–Professor Ted Malloch revealed that senior Greek economists have enquired about the possibility of adopting the greenback if the country crashes out of the single currency. He asserted that Athens is so desperate it is prepared to tie itself to the dollar on the same terms as the likes of Puerto Rico if it means being able to quit the eurozone.–And Prof Malloch said German leaders including Angela Merkel were “freaked out” at the humiliating possibility of losing Greece to a rival currency, which would be a devastating blow to the EU project. Tying Greece temporarily to the US dollar would be one way for the authorities in Athens to ensure that its currency does not completely tank if it leaves the eurozone, as would likely occur with a reissued drachma.–read more.

Trump’s EU Ambassador Says Greece Likely To “Sever Ties With Germany & Exit The Euro”by Tyler Durden, http://www.zerohedge.comAmid a more prolonged economic doldrums than The Great Depression, Greece is heading towards its 4th bailout/deal with creditors. Adding to Grexit fears (voiced by many in and out of Greece), Ted Malloch, President Trump’s proposed US ambassador to the EU, casts doubt on survival of eurozone and says Athens should return to drachma.–As we noted previously, for the umpteenth time, the IMF has warned that Greece cannot meet fiscal targets set by its creditors. And once again, the IMF insists that it will not be a part of the “Troika” unless the goals on Greece are realistic. History suggests the IMF will cave in to Germany and agree to some half-baked plan (make that 1/8th baked plan) that will supposedly put Greece back on track. Such nonsense has been going on for years. Mercy, Please!–
[It’s worse than the Great Depression…]–read more.

‘Euro is at Its End!’ Anti-Merkel Party Attack Failing Currency Which ‘CANNOT’ Be Savedby AJAY NAIR, http://www.express.co.uk/A LEADING member of Alternative for Germany (AfD) has warned of an impending “crisis” within the EU because of the crumbling euro.–Beatrix von Storch, an MEP and influential member of the far-right group, invited speakers to discuss the future of the euro and potential alternatives to the present European monetary system in Berlin on Thursday. She said the currency, which was introduced in Germany in January 2002, was destined for failure and said it “cannot be saved”.–The AfD has enjoyed a rise in support in recent months while Germany was hit by multiple terrorist attacks. –Ms von Stroch said: ”Because of the euro, in the way it is at present, [it] does not work, because it failed, because it cannot be saved. “More and more measures are being taken which, in the end, will not lead to saving the euro in its present form. In my opinion, it is at its end.”–The MEP said the EU was “facing a crisis, the magnitude of which we are not aware of”. She then warned of an incoming disaster for the eurozone if Italy was to leave the single currency. ”I believe that the topic of the euro ended up in oblivion [but] we will be falling on our toes heavily and abruptly when we realise that Italy is not at all comparable with Greece and that we twisted ourselves with Greece but that that was nothing in comparison with Italy,” she said.–She blasted the EU and its “federal influence” while speaking about her hopes for a future currency.–read more.

German Ultimatum to Greece: Reform Or Leave Eurozone by https://www.rt.com/ German Finance Minister Wolfgang Schaeuble told Greece to carry out unpopular reforms if it wants to stay in the Eurozone, ruling out debt relief for Athens. The warning may signal yet another emergency in the continent already beset by multiple crises.–As Eurozone finance ministers prepare to meet in Brussels on Monday to discuss short-term debt relief for Greece, Schaeuble delivered an ultimatum to Athens: the country, which already has a staggering €330 billion ($349 billion) debt burden, must reform or face an exit from the EU.–
“Athens must finally implement the needed reforms,” Schaeuble told Bild am Sonntag on Sunday. “If Greece wants to stay in the euro, there is no way around it – in fact completely regardless of the debt level.”–To secure new loans from European financial institutions, Greece has to ‘liberalize’ the labor market, particularly by allowing companies to fire employees more easily and with less legal obstacles. Among other unpopular measures is Brussels’ proposal to curb certain rights of Greek labor unions.–Schaeuble added that Athens must not rely on any assistance from international creditors at the moment, saying, “It will not help Greece.”–The German government has promised not to request their parliament for more money for Greece unless the International Monetary Fund (IMF) resumes lending to Athens.–The IMF in turn says that new loans are not an option unless it is reassured that Greece’s debt burden is sustainable. The Greek government, currently led by left-wing party Syriza, has long argued that the country’s overwhelming debt load is the main obstacle to sustainable growth.–Governor of the Bank of Greece Yannis Stournaras said new measures were needed to ease Athens’ debt burden. “We’ve made clear that there is no chance we’ll accept what the IMF demands on [austerity] measures and labor reforms,” Tzanakopoulos said, as quoted by Reuters.–read more.

Germany’s Finance Minister Blames ECB For German Trade Surplus; Why the Eurozone Will Destructby https://mishtalk.com/Fireworks are going off in Germany again in yet another battle between Wolfgang Schaeuble, Germany’s finance minister, and the ECB. Schaueble dismissed a suggestion this week by ECB head Mario Draghi that Germany should use fiscal room for manoeuvre to decrease its export surplus.–Reuters reports Germany’s Schaeuble blames ECB for German Export Surplus.…Why the Eurozone Will DestructGermany will pay one way or another for the massive imbalances between the creditor and debtor Eurozone countries. Eventually Spain, Greece, or Italy will realize it is impossible for them to pay back what is owed.–Once that realization sets in, some country will default on their euro-denominated liabilities. Beppe Grillo’s Five Star Movement in Italy is on board with that idea already. There are only three possible paths at this point.–Three Alternative Paths1. Germany and the creditor nations forgive enough debt for Europe to grow2. Permanently high unemployment and slow growth in Spain, Greece, Italy, with stagnation elsewhere in Europe3. Breakup of the eurozone–Germany will not allow #1. It is unreasonable to expect #2 to last forever. The only door left open is door #3. –The best move would be for Germany to leave the eurozone. Germany is in the best shape to suffer the consequences. Unfortunately, the most likely outcome is still a destructive breakup of the eurozone, starting in Italy or Greece.
–read more.

EUROZONE IN CRISIS: Shock New Claims Greece RIGGED Debt Figures Ahead of Huge Bailoutby LANA CLEMENTS, http://www.express.co.uk/GREECE’s bailout programme is under threat amid accusations its former statistics chief rigged the country’s official economic data during its debt crisis.–Athens is now under pressure from the European Union to deny claims from politicians Andreas Georgiou helped foreign creditors by manipulating public economy figures. Brussels said the row could affect Greece’s rescue programme, which saved the country from bankruptcy last summer. In response the Greek government said it was “surprised” euro officials were urging the state to wade into the official investigation.–The new comes after the Supreme Court reopened an investigation into Mr Georgiou who was head of ELSTAT for five years until 2015, following reports he exaggerated debts.–Marianne Thyssen, who oversees the European Commission’s data agency Eurostat, said she would not interfere with national courts. Yet added that the Greek government must “actively and publicly challenge the false impression that data were manipulated during 2010-2015 period and to protect ELSTAT and its staff from such unfounded claims”.–Failure to do so would damage the already fragile credibility of the Greek state with international creditors, according to Ms Thyssen. The social affairs commissioner said: “It is necessary to get the record straight and avoid misinterpretation because this could be very dangerous.”–Before 2010 angry eurozone partners said Greece concealed the depth of its public deficit.–read more.